Accident Compensation Corp Invests $405,000 in Kellogg Company (K) Stock

Accident Compensation Corp purchased a new stake in Kellogg Company (NYSE:K) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 6,500 shares of the company’s stock, valued at approximately $405,000.

A number of other institutional investors and hedge funds have also bought and sold shares of K. Koch Industries Inc. purchased a new stake in shares of Kellogg during the 2nd quarter worth about $217,000. FDO Partners LLC purchased a new stake in shares of Kellogg during the 3rd quarter worth about $219,000. Raab & Moskowitz Asset Management LLC purchased a new stake in shares of Kellogg during the 2nd quarter worth about $222,000. Cetera Investment Advisers purchased a new stake in shares of Kellogg during the 2nd quarter worth about $231,000. Finally, Airain ltd purchased a new stake in shares of Kellogg during the 2nd quarter worth about $233,000. Institutional investors own 89.65% of the company’s stock.

Shares of Kellogg Company (NYSE K) traded up $0.16 during mid-day trading on Thursday, reaching $68.13. The company had a trading volume of 1,890,600 shares, compared to its average volume of 2,551,580. Kellogg Company has a fifty-two week low of $58.76 and a fifty-two week high of $76.69. The company has a market capitalization of $23,481.77, a PE ratio of 16.99, a P/E/G ratio of 2.75 and a beta of 0.52. The company has a debt-to-equity ratio of 3.71, a current ratio of 0.68 and a quick ratio of 0.43.

Kellogg (NYSE:K) last announced its earnings results on Tuesday, October 31st. The company reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.11. Kellogg had a return on equity of 73.92% and a net margin of 6.15%. The business had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.22 billion. During the same quarter last year, the business posted $0.96 earnings per share. The company’s quarterly revenue was up .6% on a year-over-year basis. sell-side analysts expect that Kellogg Company will post 4.03 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Thursday, November 30th. Kellogg’s dividend payout ratio is 96.43%.

A number of analysts have recently issued reports on K shares. UBS decreased their target price on Kellogg from $72.00 to $67.00 and set a “neutral” rating for the company in a report on Wednesday, November 1st. BMO Capital Markets reiterated a “hold” rating and set a $78.00 target price on shares of Kellogg in a report on Wednesday, September 6th. Argus upgraded Kellogg from a “hold” rating to a “buy” rating and set a $73.00 target price for the company in a report on Wednesday, November 22nd. Bank of America reiterated an “underperform” rating and set a $66.00 target price (down previously from $72.00) on shares of Kellogg in a report on Monday, October 9th. Finally, Piper Jaffray Companies set a $72.00 target price on Kellogg and gave the stock a “hold” rating in a report on Tuesday, October 31st. Three analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $71.15.

In other news, Director Donald R. Knauss sold 6,846 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $62.57, for a total transaction of $428,354.22. Following the completion of the sale, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $312,850. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Steven A. Cahillane purchased 15,930 shares of the business’s stock in a transaction dated Thursday, November 2nd. The shares were purchased at an average cost of $62.70 per share, with a total value of $998,811.00. Following the completion of the purchase, the chief executive officer now directly owns 15,930 shares in the company, valued at $998,811. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 349,754 shares of company stock valued at $22,304,119. 1.30% of the stock is currently owned by company insiders.

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About Kellogg

Kellogg Company is a manufacturer and marketer of ready-to-eat cereal and convenience foods. The Company’s principal products are ready-to-eat cereals and convenience foods, such as cookies, crackers, savory snacks, toaster pastries, cereal bars, fruit-flavored snacks, frozen waffles and veggie foods.

Institutional Ownership by Quarter for Kellogg (NYSE:K)

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